NEW YORK, NY--(Marketwired - Sep 21, 2017) - RealBiz Media Group, Inc. (
"We spent most of Q3 setting up infrastructure and logistics in Dubai, India, Vietnam and Singapore," said Anshu Bhatnagar, CEO of RealBiz/Verus. "The legacy RealBiz lawsuit has been a source of ongoing frustration, so I am happy to report some progress in splitting our two divisions into separate companies. Our revenue ramp was delayed again by this legacy issue, but Verus is now operationally-prepared to begin its sales growth -- with an independent board, a highly experienced CFO, and new divisions in Dubai and Singapore."
In terms of the Verus business, the company is pleased to provide the following highlights for the quarter:
Post quarter-end, the company would also like to provide additional corporate developments:
"Our ultimate goal is to separate Verus Foods from these legacy disputes, so we are pleased to finally see some progress in that regard," explained Anshu Bhatnagar, CEO of Verus Foods. "We still have some details to iron out, so we cannot yet provide a schedule on the spin-off. However, this ruling will enable us to separate as soon as possible into an independent food business that gives shareholders the fresh start that we have been hoping for since the beginning of this year. "
Q3 2017 Earnings Conference Call
RealBiz management will host a conference call and live webcast for analysts and investors on September 22, 2017 at 12:00 p.m. (noon) Eastern Time (9:00 a.m. Pacific Time) to discuss the Company's financial results and business plan going forward.
To listen to the live conference call, parties in the United States and Canada should dial 888-430-8678, access code 1526157. International parties should call dial 719-785-1748, access code 1526157. Please dial in approximately 15 minutes prior to the start of the call.
A live and archived webcast of the conference call will be accessible on the "Investor Relations" section of the Company's website at www.verusfoods.com. To access the live webcast, please log in 15 minutes prior to the start of the call to download and install any necessary audio software.
About RealBiz Media Group, Inc.
RealBiz Media Group, Inc. operates two business segments: an international food subsidiary (Verus Foods) that sells products to customers worldwide; and a real estate digital media and technology company. RealBiz Media Group, Inc. (
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact Information:
Contacts
Investor Contact:
MKR Group Inc.
Todd Kehrli or Mark Forney
rbiz@mkr-group.com